EU steel imports to see two percent rise in 2015 and 2016

According to the Economic and Steel Market Outlook 2015-2016/Q1 2015 Report from the Economic Committee of the European Steel Association (EUROFER), in the third quarter of 2014 EU steel imports grew 13.4 percent year on year amid a 15 percent reduction in semi-finished steel imports and a 30 percent increase in finished steel imports.
 
The latest customs data signal the continuation of the rising trend in imports in the final quarter of 2014, while total 2014 steel imports are estimated to have increased by around 14 percent year on year.
 
According to EUROFER, imports are projected to remain at an elevated level over the coming two years. Domestic steel demand in the emerging economies not growing as swiftly as anticipated in steel industry investment programs will result in excess production being pushed into the international markets, thereby distorting traditional steel trade flows, fuelling competition and depressing steel prices and profit margins.
 
EUROFER expects an average two percent increase in EU steel imports in 2015 and 2016.